The Nigerian government’s Eurobonds have seen yields rise above 8%, with varying maturities showing distinct performance characteristics by the end of this week.
Thank you for reading this post, don't forget to subscribe!Among short-term bonds, the 7.625% bond maturing in November 2025 traded at 99.75 USD with a yield of 7.8%, showing no change from the previous week. Meanwhile, the 6.50% bond due in November 2027 traded slightly higher at 92.61 USD, yielding 9.2% with a 0.05% decline in yield.
Further along the curve, bonds with longer maturities exhibited higher yields. The 6.125% bond maturing in September 2028 dropped in price to 88.85 USD, pushing its yield to 9.5%, while the 8.375% bond maturing in March 2029 saw a similar decline in price to 95.59 USD, resulting in a 9.6% yield.
For bonds maturing in the early 2030s, the 7.143% bond due in February 2030 saw a yield rise to 9.7% as the price fell to 89.24 USD. The 8.747% bond maturing in January 2031 now yields 10%, as it traded at 94.31 USD.
Longer-term bonds, including those maturing in 2047, 2049, and 2051, had yields surpassing 10%, with the 8.25% bond maturing in 2051 trading at 77.31 USD and yielding 10.9%.
Overall, Nigerian Eurobond yields remain high, reflecting both investor caution and the ongoing volatility in global bond markets.
